Saudi Exchange celebrates the listing of WSM for Information Technology Company on Nomu - Parallel Market

Riyadh, 21 February 2024: The Saudi Exchange today celebrated the listing of WSM for Information Technology Company, a leading company in the field of technical consulting and digital solutions in the Kingdom, as it joins Nomu - Parallel Market. Mr. Mohammed Sulaiman Al-Rumaih, CEO of Saudi Exchange and Ms. Alanoud Mohammed Alqahtani, CEO of WSM for Information Technology Company, attended the listing ceremony.

WSM for Information Technology Company is a leading Saudi IT company for public and private sectors that offers a range of specialized, modern and pioneering services in the field of information technology by the best practices and international standards, which contribute to the development of their clients' business.

Mohammed Al-Rumaih, CEO of Saudi Exchange, said: "The listing of WSM for Information Technology Company on Nomu – Parallel Market adds to the growing range of diverse investment opportunities available to both local and international investors in the Saudi capital market. The listing of another company on Nomu – Parallel Market further underpins its growth and recognition as a platform for companies to expand their investor base. On behalf of the Saudi Exchange, we congratulate the company’s management and look forward to their continued growth and contribution to the Kingdom's economic development."

Alanoud Alqahtani, CEO of WSM for Information Technology Company, said: " Today’s listing marks a new phase in our company’s long-term strategy. We strive to create sustainable and advanced solutions that enable our customers to grow their businesses and increase their productivity. We look forward to embarking on the next chapter of our business’ growth journey.”

Nomu is the Saudi Exchange’s parallel equity market, which acts as an alternative platform for companies seeking to expand and go public. Nomu - Parallel Market aims to provide an opportunity for small and medium-sized companies to diversify their funding sources and develop their businesses and activities by offering lighter listing requirements in terms of market capitalization, minimum number of shareholders, and offering percentage. Nomu - Parallel Market is open only to qualified investors.       

WSM for Information Technology Company offered 390,000 shares at an offering price of SAR 49 per share.

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